CAJ | 학술논문

董事会是公司治理结构的核心,董事会治理的效率将通过公司业绩反映出来。以2005年—2007年CCER民营上市公司为研究样本,对民营上市公司董事会特征与企业绩效之间关系进行实证研究。研究发现：第一,适当扩大董事会规模有助于提高企业绩效,即董事会规模与企业绩效正相关;第二,董事长持股比例、前三名董事薪酬之和与企业绩效之间呈显著性正相关,董事会激励机制一定程度上能提高企业绩效。
동사회시공사치리결구적핵심,동사회치리적효솔장통과공사업적반영출래。이2005년—2007년CCER민영상시공사위연구양본,대민영상시공사동사회특정여기업적효지간관계진행실증연구。연구발현：제일,괄당확대동사회규모유조우제고기업적효,즉동사회규모여기업적효정상관;제이,동사장지고비례、전삼명동사신수지화여기업적효지간정현저성정상관,동사회격려궤제일정정도상능제고기업적효。
Board is the core of corporate governance structure,and the efficiency of board governance will be reflected through company performance.This paper takes the private listed companies from 2005 to 2007 as research samples to investigate the relationship between board characteristics and enterprise performance.The results from our study show that： First,as the size of board and enterprise performance is positive related,expanding the size of board appropriately will improve enterprise performance.Second,the shareholding of chairman of board and remuneration of directors of the top three are significantly positive correlated to enterprise performance.So the incentive system of the board can promote the enterprise performance.